You say we have to save the banks? Fine. We'll save the banks, but we won't save you. You made losing bets on commercial real estate; you go bankrupt, which

You say we have to save the banks? Fine. We'll save the banks, but we won't save you. You made losing bets on commercial real estate; you go bankrupt, which is the normal penalty for such mistakes. And even "saving the banks" doesn't mean saving the bank management or stockholders. It means preserving the depositors, and often it means preserving the institution. We don't need to save any more than that. And, to avoid moral hazard, we shouldn't save any more than that.